UCBs may adopt an IS audit policy, if not already done, appropriate to its level of operations, complexity of business and level of computerization and review the same at regular intervals in tune with guidelines issued by RBI from time to time.
The system of VAT was introduced in the sales tax law to bring more transparency, efficiency, to remove tax cascading etc. The difficulties which may arise in any system comes to picture only when the system is practically implemented. One of the major difficulties being faced by the dealers is the disallowance of input tax […]
Notification No. 7/2014-Income Tax In partial modifications of earlier Notification No. 1 of 2013(F.No.A32012/6/ 2012-Ad.VI) dated 15t January, 2013, it is clarified that the following Assistant Commissioners of Income Tax (Junior Time Scale) are hereby appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,600-39,000/- (Grade Pay of Rs. 6,600/- in Pay Band-3) with effect
Notification No. 10/2014-Income Tax In partial modifications of earlier Notification No. 04 of 2014(F.No.A32012/ 2/ 2013-Ad.VI) dated 3rd March, 2014, it is clarified that the following Assistant Commissioners of Income Tax (Junior Time Scale) are hereby appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,60039,000/- (Grade Pay of Rs. 6,600/- in Pay Band-3) with effect
Notification No. 8/2014-Income Tax In partial modifications of earlier Notification No. 7 of 2013(F.No.A32012/6/2012-Ad.V1) dated 2l October, 2013, it is clarified that the following Assistant Commissioners of Income Tax (Junior Time Scale) are hereby appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,600-39,000/- (Grade Pay of Rs. 6,600/- in Pay Band-3) with effect
THEN JOINT COMMISSIONER OF INCOME TAX SENTENCED THREE YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS. 20,000/- IN A CORRUPTION CASE CBI Press Release- New Delhi, 10.06.2014 The Special Judge, CBI Cases, Patiala (Punjab) has convicted Shri R.L. Channalia, the then Joint Commissioner, Income Tax, Amritsar (Punjab) and sentenced him to undergo three Years Rigorous Imprisonment […]
That I undertake to furnish to the Registrar of Companies (mention jurisdiction) details of my PAN as soon as a Permanent Account Number is allotted to me.
The ‘Technolization’ of normal human life has brought about sea change in thinking pattern, living pattern, time allotment pattern, sleeping pattern, family pattern and many more aspects of human life. In this article I have tried to analyze very few aspects of human lives around.
If no additions made on grounds set for reasons for reassessment, than no addition can be made on other aspects The legal position is fairly well settled on the issue that in a reassessment proceeding, when no additions are made in respect of the income, purportedly escaping the assessment, set out in the reasons for re-opening the assessment, no other additions can be made either.
Merely because and institution has borrowed funds, one cannot conclude that the objects of such institution cannot be charitable. The assessee may borrow funds for fulfillment of its objects, therefore, we have stated in framing words, the mere facts of borrowing cannot be against the assessee at the stage of grant of registration.
